Movement to reorganize the Detroit Electrical Works

DETROIT ELECTRICAL WORKS.

A movement is on foot to reorganize the defunct Detroit Electrical Works, says the Detroit Tribune, and put the plant upon a firm footing. The scheme is in the hands of James I. Ayer, of St. Louis, Cameron Carrie and Thomas Jerome, of this city. It is proposed, if possible, to buy the works at the price which they would bring at a forced sale, which would be, it is estimated, about $50,000. The idea which has been advanced is to raise $50,000 to buy the works, and then to raise about $100,000 to be used as operating capital. The works are said to be worth about $200,000 as an electrical plant